Financial Data and Key Metrics Changes - The company achieved a net profit of BRL 4 billion in the quarter, marking a nearly 10% increase quarter-on-quarter and year-on-year, with a profitability rate of 17.5% [4][27] - Expenses grew by only 0.2% quarter-on-quarter and decreased by 0.5% year-on-year, indicating effective expense management [6][27] - The efficiency ratio increased slightly but remains at a better level, with a year-on-year improvement of 140 basis points [6][27] Business Line Data and Key Metrics Changes - Net interest income (NII) dropped quarter-on-quarter, particularly in market NII, while client NII increased by 2.7% quarter-on-quarter and 11.1% year-on-year [5][23] - Fees grew by 6.7% quarter-on-quarter, with strong diversification among different fee line items [5][25] - Consumer finance continues to grow at double digits annually, attracting 1 million new clients and achieving a 43% year-on-year growth in fees [15][16] Market Data and Key Metrics Changes - The company reported a stable performance in the individual's mass income segment, with a focus on reducing exposure to higher risk profiles [22] - The corporate segment showed positive evolution, maintaining price discipline despite market challenges [22] Company Strategy and Development Direction - The company aims to build a more solid and resilient operation, focusing on diversification and predictability in its customer franchise [7][14] - The "One App" initiative is a key strategic focus, designed to enhance customer experience and streamline interactions [12][35] - The company is committed to a disciplined capital management approach, emphasizing value creation and modernization [14][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory towards sustainable profitability, despite macroeconomic challenges [28][30] - The focus remains on improving customer satisfaction and maintaining a disciplined approach to credit origination [30][52] Other Important Information - The company is leveraging AI to enhance customer interactions and improve operational efficiency [10][31] - The introduction of the "One App" is expected to significantly impact customer experience and operational costs [35] Q&A Session Summary Question: Expected effects of the One App implementation - Management believes the One App will primarily enhance customer experience and enable better cross-selling opportunities, while also contributing to cost reduction [34][35] Question: Changes in cost of risk and credit quality - Management confirmed no changes in policies or management regarding cost of risk, emphasizing a disciplined approach to loan origination and recovery [42][43] Question: Risk appetite and credit growth expectations - Management indicated a focus on growing in high-profitability sub-segments while maintaining a disciplined approach to credit risk [50][52] Question: Market NII performance and future expectations - Management acknowledged the impact of fewer business days and high interest rates on market NII, with expectations for improvement as the portfolio stabilizes [81][84]